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SB 292 IN
Passed One Chamber

INPRS investments.

IN · session 2023 · Senate · bill

A state bill is a proposed law in a state legislature — separate from the U.S. Congress. Learn more →

Introduced Jan 11, 2023

Latest action (Feb 28, 2023) First reading: referred to Committee on Financial Institutions

Summary

Requires the board of trustees of the Indiana public retirement system (board) to make investment decisions with the primary purpose of maximizing the target rate of return on the board's investments. Prohibits the board from making an investment decision with the purpose of influencing any social or environmental policy or attempting to influence the governance of any corporation for nonpecuniary purposes. Specifies an exception. Requires the board to adopt a policy that ensures proxy voting and engagement is based primarily on maximizing the target rate of return on the board's investments. Provides certain guidelines and reporting requirements for proxy voting in relation to the administration of the public pension and retirement funds of the system.

Sponsors (4)
2 coauthors / cosponsors

Action history (15)
  1. Jan 11, 2023 Authored by Senator Holdman · upper
  2. Jan 11, 2023 First reading: referred to Committee on Pensions and Labor · upper
  3. Jan 12, 2023 Senator Rogers added as second author · upper
  4. Jan 26, 2023 Committee report: amend do pass, adopted · upper
  5. Jan 30, 2023 Senator Koch added as third author · upper
  6. Jan 31, 2023 Senator Raatz added as coauthor · upper
  7. Feb 9, 2023 Senator Randolph added as coauthor · upper
  8. Feb 16, 2023 Amendment #5 (Holdman) prevailed; voice vote · upper
  9. Feb 16, 2023 Amendment #3 (Hunley) failed; voice vote · upper
  10. Feb 16, 2023 Amendment #1 (Pol) failed; Roll Call 122: yeas 9, nays 39 · upper
  11. Feb 16, 2023 Second reading: amended, ordered engrossed · upper
  12. Feb 20, 2023 Third reading: passed; Roll Call 131: yeas 40, nays 7 · upper
  13. Feb 20, 2023 House sponsor: Representative Manning · upper
  14. Feb 21, 2023 Referred to the House · upper
  15. Feb 28, 2023 First reading: referred to Committee on Financial Institutions · lower
Subjects
INDIANA PUBLIC RETIREMENT SYSTEM (formerly PERF)

Text versions (3)

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

  • Engrossed Senate Bill (S) · Feb 16, 2023 · PDF
  • Introduced Senate Bill (S) · Jan 11, 2023 · PDF
  • Senate Bill (S) · Jan 26, 2023 · PDF

Full text

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Data from OpenStates. View on OpenStates →